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Belated Return Does Not Bar Concessional Tax under Section 115BAA If Form 10-IC Filed in Time: ITAT Mumbai in Vashishtha Luxury Fashion Ltd. v. DDlT
The
assessee, a domestic company engaged in the business of designing and
manufacturing hand-embroidered apparel, filed its return of income for
Assessment Year 2023-24 declaring total income of ₹1,27,35,880 and opt...
Receipts from Providing Shooting Locations Cannot Be Treated as House Property Income Without Proper Verification: ITAT Mumbai in Shiva Ramprasad Nirmal v. ITO
The
assessee, an individual, filed an appeal against the order passed by the
National Faceless Appeal Centre for Assessment Year 2020–21, wherein an
addition of ₹25,58,770 was sustained by treating receipts as inc...
Bogus Purchases Cannot Be Fully Disallowed Where Corresponding Sales Exist—Only Embedded Profit Taxable: ITAT Mumbai in S R Jewels v. ITO
The
assessee, a partnership firm engaged in the diamond trade, filed an appeal
against the order of the National Faceless Appeal Centre for Assessment Year
2009–10, whereby an addition of ₹49,21,400 was sustained ...
Registration under Section 12AB Cannot Be Rejected for Mere Technical Error: ITAT Mumbai in Ruah Community Foundation v. CIT (Exemptions)
The
assessee, a charitable trust, preferred an appeal against the order passed by
the Commissioner of Income Tax (Exemptions), Mumbai, whereby its application
seeking registration under section 12AB of the Income-tax ...
Working Capital Adjustment Mandatory Where Directed by Tribunal—TP Adjustment Deleted: ITAT Mumbai in Red Hat India Pvt. Ltd. v. ACIT
The
assessee, Red Hat India Private Limited, preferred an appeal against the order
giving effect dated 31 December 2024 passed under section 143(3) read with
section 254 of the Income-tax Act, 1961 for Assessment Year...
Section 153D Approval Must Be Year-Wise: ITAT Delhi Quashes Assessments in Honey Arora vs. Assistant Commissioner of Income Tax
In Assistant Commissioner
of Income Tax, Central Circle-25 v. Honey Arora (ITAT Delhi, order dated 09
January 2026), the Delhi Bench of the Income Tax Appellate Tribunal examined
the validity of assessments framed und...
Appeal Cannot Be Dismissed for Non-Prosecution—Bogus Loss Allegation on Client Code Modification Remanded: ITAT Mumbai in Ramkumar Venugopal Investments Pvt. Ltd. v. DCIT
The
assessee company preferred an appeal against the order passed by the
Commissioner of Income Tax (Appeals)-50, Mumbai, for Assessment Year 2009–10.
At the outset, the Tribunal noted a delay of 60 days in filing t...
Mechanical Approval under Section 153D Invalidates Search Assessment: ITAT Delhi in Avtar Singh Kochar Vs Assistant Commissioner of Income Tax
In Assistant Commissioner of Income Tax, Central Circle-25 v. Avtar
Singh Kochar (ITAT Delhi, order dated 09 January 2026), the Delhi Bench of
the Income Tax Appellate Tribunal adjudicated cross-appeals arising from an...
Capital Asset Held Since Construction of Building Is Long-Term—Section 54 Exemption Allowable: ITAT Mumbai in Rajani Shivaji Ghadge v. ITO
The
assessee preferred an appeal against the order passed by the Commissioner of
Income Tax (Appeals)–National Faceless Appeal Centre for Assessment Year
2016–17. The reassessment was completed under section 147 r...
Addition under Section 153C Unsustainable for Wrong Assessment Year: ITAT Delhi in Faridabad Presswell Pvt. Ltd. Vs Assistant Commissioner of Income Tax
In
Assistant Commissioner of Income Tax, Central Circle-25 v. Faridabad Presswell
Pvt. Ltd. (ITAT Delhi, pronounced on 09 January 2026), the Delhi Bench of the
Income Tax Appellate Tribunal dismissed the Revenue’s a...